CVS Health CEO Larry Merlo told Wall Street analysts Monday its PBM deal with Anthem, which is well into planning phases, will continue.

In October, Anthem unveiled it will establish an in-house pharmacy benefits manager called IngenioRx through a five-year agreement with CVS Health. Under the agreement, CVS Health will manage prescription fulfillment and claims processing. IngenioRx will offer PBM services beginning in 2020, when Anthem's contract with Express Scripts expires.